Investment Banking and Corporate Development issues relating to Technology

Monday, August 31, 2009

Busy day as NICE bolsters leadership in financial compliance arena and tucks in location based services

On August 31, 2009, NICE Systems announced a $73.5 m all cash acquisition of Fortent analytics based compliance and risk management business. Transaction expected to be accretive in 1Q 2010 is valued at 5x EV/Forward revenue, in line with NICE’s acquisition of Actimize in July 2007. Positions Actimize, wholly owned subsidiary of NICE, to be the one-stop shop for all banks in their compliance and financial crime prevention efforts. Fortent provides analytics based Anti-Money Laundering (AML), Know-Your-Customer (KYC) and other financial crime prevention software for financial services industry

NICE also announced a $11 million Hexagon System Engineering tuck-in which provides cellular location tracking technology for law enforcement, intelligence and security groups. Acquisition enhances security offerings to government agencies, aka homeland security and enhances NICE’s position in communication interception market as highlighted by Israel Digital News

1 comment:

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